Category: Reinsurance renewals
Transformational expansion of risk transfer to capital markets needed to finance future crises
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. With a widening crisis protection gap evident around the world there is a need for a transformational expansion in the use of insurance and reinsurance mechanisms to transfer risks to the capital markets, according to a report from…
COP29 ends with Loss and Damage fund progress, strategic direction set for Global Shield
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. COP 29, the United Nations Climate Change Conference held in Baku, Azerbaijan, has drawn to a close with agreement on certain areas and progress being made on the much-discussed Loss and Damage, as well as the Global Shield,…
Parametric insurance can help close US $1.8tn protection gap: Generali and UNDP
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. A joint report published by insurance giant Generali and the United Nations Development Programme (UNDP) highlights parametric risk transfer and insurance as a key solution that can help to close the US $1.8 trillion protection gap. “Parametric insurance…
Nat cat gap expands 5.2% to $385bn, but protection more available: Swiss Re
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The global natural catastrophe protection gap widened again in 2023, rising 5.2% to US $385 billion in premium equivalent terms, but at the same time Swiss Re reports that there are signs of more protection being available, which…
World Bank & EC call for scaled up European disaster risk transfer & cat bonds
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. In a string of research reports, the World Bank Group and European Commission call on governments across Europe to utilise more in the way of disaster risk transfer and insurance to reduce the pressure from weather and natural…
Munich Re behind Hawaii coral reef parametric insurance renewal, coverage expands
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. An innovative parametric insurance product that provides protection to fund repairs following storm damage to coral reefs in Hawaii has been renewed and its coverage expanded, while global reinsurance firm Munich Re is again backing the cover, which…
Parametric insurance to cover South Pacific coral reef in Fiji archipelago
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. An innovative parametric insurance program has been taken across the globe to cover a South pacific coral reef in the Fiji archipelago, with broker WTW saying it will provide up to US $450,000 of cover for reef restoration…
Aggregate reinsurance back on the table, lower layers see more support: Aon
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. A few signs emerged at the recent January 1st 2024 reinsurance renewals that bode well for protection buyers as we move through this year and into the next, as broker Aon highlighted that appetite is returning for some…
One Acre Fund Re reinsurance fund launched at COP28 with ARC, IFC, DFC backing
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. A new reinsurance fund has been launched to support delivery of innovative insurance products to protect smallholder farmers in Africa, with One Acre Fund Re expected to become a source of capacity to back what will likely be…
